Brazil policy rate in 2025 (4 changes)

Start of year12.25%

End of year15.00%Dec 31, 2025

Net change+275 bp4 hikes, 0 cuts

Average14.417%

Rank by level3 / 38

Changes in 2025

Date	From	To	Change
Jan 30, 2025	12.25%	13.25%	hike +100 bp
Mar 20, 2025	13.25%	14.25%	hike +100 bp
May 8, 2025	14.25%	14.75%	hike +50 bp
Jun 19, 2025	14.75%	15.00%	hike +25 bp

Compared with other areas at the end of 2025

Türkiye38%

Russia16%

Brazil15%

Colombia9.25%

Iceland7.25%

Mexico7%

South Africa6.75%

Romania6.5%

Hungary6.5%

Serbia5.75%

India5.25%

Indonesia4.75%

Philippines4.5%

Chile4.5%

Saudi Arabia4.25%

Peru4.25%

Israel4.25%

Poland4%

Norway4%

North Macedonia4%

Hong Kong4%

United Kingdom3.75%

United States3.625%

Australia3.6%

Kuwait3.5%

Czechia3.5%

China3%

Malaysia2.75%

South Korea2.5%

New Zealand2.25%

Morocco2.25%

Canada2.25%

Euro area2%

Sweden1.75%

Denmark1.6%

Thailand1.25%

Japan0.75%

Switzerland0%

Year-end rate over time

202613.75%

202515%

202412.25%

202311.75%

202213.75%

20219.25%

20202%

20194.5%

20186.5%

20177%

201613.75%

201514.25%

201411.75%

201310%

20127.25%

201111%

201010.75%

20098.75%

200813.75%

200711.25%

200613.25%

200518%

200417.75%

200316.5%

200225%

200119%

200015.75%

← 2024 2026 →

2025: hikes and cuts worldwide →

Daily policy-rate data compiled by the BIS. Not investment advice.